On completion, the project will comprise around 8,000 rowhouses, villas, twin villas and apartments, with a population of around 30,000 residents.

When will the project be completed?

The whole project will be completed in phases over an 8-year period. Phase 1 was handed over to purchasers in December 2010.

How far away is the project from the center of HCMC?

Located north of HCMC, EcoLakes is 40 km from the city's Central Business District.

When will the My Phuoc-Tan Van Highway be completed?

The highway is scheduled for completion in 2014.

What is percentage of EcoLakes has been assigned for housing development?

According to the development master plan, 48% (106.75 ha) of land has been earmarked for residential development.

Is the EcoLakes project situated on freehold land or 50-year leasehold land?

The EcoLakes project is situated on freehold land.

After buying a house or apartment, will I be issued with an Ownership Certificate? When and how will this Ownership Certificate be issued to me?

According to applicable laws, the time limit for issuance of the Ownership Certificate shall be no later than 50 business days from the date on which the competent authority receives the legal dossier on full and valid basis. In practice, however, this time limit may be longer subject to the local authority.

In order for the Owership Certificate to be issued, he/she must fulfill the following under the SPA:

Pay up in full the Delivery Sum and any interest owed under the Sale and Purchase Agreement (SPA).

Provide the Developer with all necessary certifications, documents, information and papers.

Fulfill all other terms and conditions under the SPA.

Within 50 days from the date of fulfillment by the Purchaser of the conditions above, the Developer shall submit the legal dossier to the competent authority for issuance of the Ownership Certificate to the Purchaser and obtain a receipt for submission of such dossier.

Land: the Provincial People's Committee has handed over and set up landmarks for the entire 24 ha land area in the first phase of the project; and for such land area, the Developer obtains Decision on land lease, Land lease agreement signed with the People's Committee of Binh Duong province, Land use right certificates for the land parcels of the Project issued to the Developer;

Construction: Minutes on acceptance for completion of the foundations for the houses of the aforesaid land area.

After I move into my house, will the construction of future phases of the project adversely affect my area?

The location and topography of the site allows the construction to be organized independently in phases along many different internal traffic lines. This will ensure that residents living in completed sections of EcoLakes, will not be affected by subsequent construction work.

How complete will my house/apartment be when it is handed over to me?

As indicated in the Sale and Purchase Agreement, the properties to be handed over will have a fully completely exterior and bare interior.

A completed exterior means that the facade will be finished and painted. The surrounding streetscape will also be completely cleaned up and landscaped.

Please refer to the Internal Rules & Regulations section of the Hand-Over Manual which is enclosed with the SPA for more detailed information about the products, that is, the houses and apartments.

Can I make any changes to my house?

As a purchaser, you may decorate the interior of your home as you wish. However, you have to ensure that your decorations will not change or have any influence on the building structure of the house.

Any structural changes to the house or apartment interior requires written permission from the management board to safeguard the main building structure.

You may not make any changes to (i) the main structure of their house or apartment and (ii) the color of the exterior of their house or apartment unit.

Can I make improvements to the garden?

If you have purchased a villa, twin villa or rowhouse, you may plant any tree or plant in your garden provided there is space and it will not inconvenience the neighbours.

If you would like to plant a big tree, you are required to seek permission from the urban area management board because a big tree may have a negative impact on your house structure as well your neighbour's house. It may also have a negative impact on the landscape.

What financial support can EcoLakes offer me?

EcoLakes has a panel of bankers – BIDV, Techcombank and Hong Leong Bank – which supports 70% of payment for products at EcoLakes for a maximum period of 15 years. Please contact the Customer Relations Department for further information.

If I buy a house/apartment in EcoLakes as an investment, will I be able to transfer the financial contribution/sales contract? If yes, what is the procedure?

Yes, you may transfer the financial contribution/sales contract after execution of the SPA and before the house/apartment is handed over from the Developer.

You may also do so after issuance of the Ownership Certificate.

Please note that the this transfer must comply with the applicable laws, the loan agreements and/or security agreements between you and the bank (if any).

Why do I have to pay a maintenance fee to the Developer?

As the Purchaser, you are required to pay the maintenance fee to the Developer in accordance with the SPA and the Internal Regulations in order to maintain the landscape surrounding and adjacent to your house in the best conditions as well as the common area and facilities.

You may also have to pay other fees as may be determined by the Developer from time to time in accordance with the Internal Regulations.

How much is the maintenance fee?

The Developer will be providing Purchasers with two years' free maintenance from the cut off date. From the third year, the maintenance fee will be collected. The fee will be calculated and adjusted according to the fluctuation of the practical operating cost to ensure that the premium standards for EcoLakes are maintained.

Can I pay for an EcoLakes house/apartment in USD?

No. Under the CCA/SPA, all payments shall be made in VND only.

When will I be required to pay the 10% VAT?

Under the Circular No. 129/2008/TT-BTC issued by the Ministry of Finance on 26 December 2008, with effect from 1 January 2009, the VAT amount shall be paid and the relevant VAT invoices shall be issued, for each installment in accordance with the payment schedule as specified in the SPA.

If I have questions and concerns that are not covered in this FAQ, what should I do?

Please get in touch with the EcoLakes Customer Relations Department immediately. We are just a phone call away at 0907 57 2255 or email us at ecolakes-sales@setiabecamex.vn.

The Customer Relations Department is located in the EcoLakes Sales Gallery. Please feel free to visit us at 9am to 5pm on Monday to Friday; 9am to 4pm on Weekend and Public Holidays.

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